RE: SABIA: RONA is worth a lot more ....

Pertinent info from your link:

Sabia said the Caisse has the same long-term positive outlook about its investment in home renovations retailer Rona (TSX:RON).

He said the company decided long before the hostile bid from Lowe’s to increase its stake in the company and didn’t act because of some “red phone call” from its political masters ordering it to do so.

“This is nonsense,” he said angrily in a boardroom overlooking downtown Montreal.

“We started building a position because we thought that the company had potential… and frankly the Lowe’s offer was so far below what we think the value creation potential of that company is (that) we weren’t comfortable with the offer.”

Sabia said the Caisse increased its stake in Rona to 15 per cent to send a message that there was no way the company would be sold at that price.

“But we did that on the basis of our work analyzing this business down to the ______ nuts and bolts,” he said.

Working with fellow shareholder Invesco, the Caisse pushed for changes to the board, including the appointment of an experienced chairman.